Shares of realty major Unitech have been going down since the year 2008. On January 2008, the stock was trading above Rs 500 and today it is trading close to Rs 15 which means it has lost 97% of its value in the last 6 years.

Yesterday it was hammered down nearly 10 per cent on reports that the company has been served a default notice from LIC Housing Finance on a loan taken in 2007 for a luxury housing project in Noida.

As per media reports, LIC Housing Finance issued a notice to the company barring it from selling the Noida Sector 96 land, which has been pledged as collateral against the loan. This notice could possibly add one more stock into penny stock. Members should be careful in dealing with penny stocks and if they want multibagger from penny stocks then it could give rude shocks and make the investor penny less beggars.

Market has gone down yesterday as expected in our morning newsletter. Under this circumstance we have to be waiting till December 8, 2013. The results would be announced on 8th of December and if it favors the market then we could expect a sharp up move in Nifty. Today the market may remain in sideways.